GBPJPY - Long Trade Idea
Updated
I like the long idea here. If the current day can form a Bisi, that would be fantastic. After that I would just be looking price to trade back into the Bisi, into one of the key Breaker levels annotated, at the right time of the day, then STRIKE.
The highest-probability target would be the recent high, and the next discretionary target would be my Wick Chair model (out of view), which basically also has some EQHs as well. A runner could be left for even higher prices should both targets be hit.
The stoploss is discretionary for a better RR as this is the Daily timeframe. The safest option would be the protected low annotated on the chart.
- R2F
The highest-probability target would be the recent high, and the next discretionary target would be my Wick Chair model (out of view), which basically also has some EQHs as well. A runner could be left for even higher prices should both targets be hit.
The stoploss is discretionary for a better RR as this is the Daily timeframe. The safest option would be the protected low annotated on the chart.
- R2F
Note
The Daily Bisi created is smaller, but still valid nonetheless.Note
Overall bias was bearish. Well, it was silly having a bullish GBP and bearish EUR bias.The Bisi did give a high-probability target, but it was actually the minor swing high before the retracement into the gap.
Note
Still looks like it may just hit the full target. I'm used to trading major pairs only, so i'm still learning how some of these minor pairs move.
R2F
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